Medtronic PLC $MDT Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. reduced its position in shares of Medtronic PLC (NYSE:MDT) by 80.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 115,493 shares of the medical technology company’s stock after selling 474,700 shares during the period. Pacer Advisors Inc.’s holdings in Medtronic were worth $11,094,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MDT. Lodestone Wealth Management LLC purchased a new position in Medtronic in the fourth quarter valued at $27,000. Anfield Capital Management LLC raised its stake in Medtronic by 410.7% in the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock valued at $27,000 after buying an additional 230 shares in the last quarter. Monetary Solutions Ltd purchased a new stake in Medtronic during the 4th quarter worth about $27,000. Board of the Pension Protection Fund purchased a new stake in Medtronic during the 4th quarter worth about $29,000. Finally, GoalVest Advisory LLC acquired a new position in shares of Medtronic during the 4th quarter worth about $29,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MDT has been the topic of a number of recent analyst reports. BTIG Research upgraded Medtronic from a “neutral” rating to a “buy” rating and set a $90.00 price objective on the stock in a report on Wednesday, June 3rd. Robert W. Baird decreased their target price on Medtronic from $93.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, June 4th. Mizuho lowered their price target on Medtronic from $120.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, June 3rd. Piper Sandler reiterated a “neutral” rating and issued a $85.00 price target on shares of Medtronic in a research note on Tuesday, June 16th. Finally, UBS Group cut their price objective on shares of Medtronic from $90.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, June 4th. Seventeen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, Medtronic currently has an average rating of “Moderate Buy” and a consensus target price of $99.00.

Insider Activity at Medtronic

In other news, EVP Harry Skip Kiil sold 4,189 shares of the firm’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $80.44, for a total value of $336,963.16. Following the completion of the sale, the executive vice president owned 37,227 shares in the company, valued at approximately $2,994,539.88. This trade represents a 10.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.26% of the company’s stock.

Medtronic Trading Up 0.0%

Shares of MDT stock opened at $79.37 on Monday. The company has a market capitalization of $101.90 billion, a P/E ratio of 21.28, a price-to-earnings-growth ratio of 2.13 and a beta of 0.58. The company has a current ratio of 2.54, a quick ratio of 1.87 and a debt-to-equity ratio of 0.57. The business’s 50 day moving average is $80.13 and its two-hundred day moving average is $90.41. Medtronic PLC has a twelve month low of $73.31 and a twelve month high of $106.33.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.54 by $0.01. Medtronic had a return on equity of 14.61% and a net margin of 13.20%.The business had revenue of $9.81 billion during the quarter, compared to analysts’ expectations of $9.62 billion. During the same quarter in the prior year, the business earned $1.62 earnings per share. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Equities analysts forecast that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 26th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Friday, June 26th. This is an increase from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s payout ratio is currently 76.14%.

About Medtronic

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).